Statoil has issued a Letter of Intent to Prosafe Offshore AS, a wholly owned subsidiary of Prosafe ASA, for the provision of accommodation services to Statoil on the Troll field on the Norwegian Continental Shelf in 2004.
The contract has a fixed duration of 115 days and will commence in July 2004. In addition, Statoil can exercise options that in total can have a duration of up to 60 days. The options must be declared by 31.12.2003. The value of the fixed contract, which will be performed by the MSV Regalia, is approx. USD 15,6 mill. incl. mobilisation and demobilisation. If all options are being exercised, the total contract value is approx. USD 21,7 mill. incl. mobilisation and demobilisation.
Statoil may use MSV Regalia for alternative work such as Well Intervention or Subsea Construction during the contract period.
Prosafe is the world's leading owner and operator of semi-submersible service rigs, the largest platform drilling contractor in Norway and a major owner and operator of floating production and storage vessels outside the North Sea. Operating revenues reached NOK 2.9 billion in 2002. The company employs approx. 1,800 people. Prosafe operates in the North Sea, South-East Asia, India, Egypt, West Africa and the Gulf of Mexico. The company is headquartered in Stavanger, Norway. Prosafe is listed on the Oslo Stock Exchange with ticker code PRS. For more information, please refer to www.prosafe.com.
Tananger 23 April 2003